Las Vegas, it’s the town where no one sleeps and so much happens. Then, this great city was hit hard when the economy crashed back in 2007, but just like losing at slots, one can always come back for a win, and that is exactly what the Las Vegas real estate market is doing.
Numbers show that there has been an increase from April of 1.8 percent and an overall 32.8 percent increase since 2012. The market is also showing there are less than 13,815 homes in the Las Vegas area available as of May of this year. That means more and more homebuyers are acquiring homes as they are predicting the prices to rise even more as the year continues. It was also reported that building permits hit a five year high this month alone.
Investors are also getting involved in this market and buying up homes, leaving areas with little or no available homes, which include new and foreclosed properties. One of the neighborhoods that is being sought and looked at hard is the Henderson Nevada homes for sale. There are great Las Vegas homes for sale for unbelievable prices.
Real estate in Las Vegas is becoming a premier spot for investors again, and that helps increase the housing prices. This makes it an ideal market for sellers, which is a good turn around since 2006. The National Association of Realtors has stated that new homes for sale in Las Vegas were once again heading towards being number one in America. Users are also encouraged to look at Lake Las Vegas homes for sale.
It has been reported that the average price for a residential home in the metro area of Las Vegas has risen compared to last year by 30.6 percent. The average price of a home was $120,000, and the price rose to $143,000 during the first quarter of this year. Homes for sale in Las Vegas had an amount of 4,512 foreclosed home sales registered during the beginning of the year, which meant foreclosed houses were down 63 percent based on the data last year. It is also being reported that there is going to be a possible shortage of houses if the spike of buying continues. The price of a median price of a single family home was up 3.7 percent from last month and up 30.6 percent from this time last year. That is quite significant.
Home sales are on the move and this is one city that is going to remain a great location for home buyers and investors. When searching for homes for sale in Las Vegas, buyers are encouraged to take a look at Summerlin because there are many homes for sale in Summerlin Las Vegas.